Bidding at auction can be one of the most nerve-racking experiences that you will ever have to experience, but there are ways to calm those nerves and that’s not with a bottle of Good red. That’s after the auction when the property has been sold to you.
Bidding at auction can be one of the most nerve-racking experiences that you will ever have to experience, but there are ways to calm those nerves and that's not with a bottle of Good red. That's after the auction when the property has been sold to you.
The complexity of agent versus buyer in a very tense and even somewhat surreal situation, can give any human heart palpitations.
I will attempt to calm down some of that anxiety with a few auction tips today that could very well help you to secure your future property.
1. The first tip is set a limit and be prepared to stick to it. Asking you not to get emotionally involved is a big task, and for the most of us, when we really want something we are not able to detach ourselves.
3 . Don't go into an auction letting the auctioneer run the show, be polite but only bid in the amounts you feel comfortable not what the auctioneer is forcing you to do. Remember the auctioneer doesn't work for you, they are there to extract the most money out of you for the vendor. Have a plan in place should the auction be passed in as many properties sell shortly after the auction behind closed doors, and this process is far less transparent.
4 Always make sure your finance is in place and that you have sufficient identification on you to register to bid at an auction and should someone else be bidding for you make sure they have given you permission in writing to do so.
5. Don't be afraid of auctions. It is not as daunting as it seems if you understand how it can work in your favour as well. If the pace is going too fast for you, you can always try to slow it down so that it does not overwhelm you. While auctions always seem like it favours the vendors, this is not always the case. An auction can also be a good way to send a signal to the vendor that their price is unrealistic relative to the level of demand or to ensure transparency amongst the prospective purchasers.
Of course, I will always recommend you engage a professional to bid on your behalf, and with our auction bidding service costing from $550.00 it is well worth engaging us.
Professional buyer's agents are trained to perform under stressful auction conditions and in most cases can save you not only a lot of anxiety, but also a lot of money. Call me direct Peter Kelaher on0419200018 for any of your auction needs.